Housing Continues to Slow the Economy

Image via Wikipedia With foreclosures the name of the game in real estate markets nationwide, there is no shortage of houses for sale. Banks that were required to reclaim houses for which they were no longer receiving payment have been and continue to be eager to get them off their books. That has led to a huge number of homes - condos, apartment buildings, and individual houses – that are for sale. Couple that with people who are upside down on their mortgages, owing more than it is worth, and the foundation is laid. Homes aren’t selling well, because the standard recipe of building … [Read more...]